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US Optical Market
Optical Overview
2nd Quarter 2019
Vision Expo West--Las Vegas, NV
September 18, 2019
Vision Council Research
Department
*Please note that the VisionWatch information in this presentation is for the sole use of
Vision Council companies only and cannot be distributed in any form to non-members
without consent from The Vision Council.
Vision Correction Usage: Jun’18 & Jun’19
219.9
165.1
42.232.8 31.3
24.413.5 18.3 12.7
PlanoSunglasses
Eyeglasses ContactLenses
Readers RxSunglasses
SunglassClips
ComputerEyewear
Surgery Squinters
In Millions of People
12ME Jun'18 12ME Jun'19
* Surgery is the sum of US residents having ever had refractive surgery; not counted as vision correction users
‘Squinters’: US residents who say that they need vision correction, but do not use any
•Categories: the number of US residents 18+ who use the
vision correction alternative all or any part of the time
• Some people use more than one vision correction device
195.3 Million Vision
Correction Users:
+2.8 million from
Jun’18
Vision Care Products & Services – Total U.S.
Market
$9,940.0
$14,121.4
$5,399.8$4,348.2
$943.1
$6,328.2
$1,896.8
OphthalmicFrames
Rx Lenses Contact Lenses PlanoSunglasses
OTC Readers Eye Exams RefractiveSurgery
In $Millions$All Retail*
Inflation not taken into consideration
12ME Jun17 12ME Jun18 12ME Jun19
*All retail includes dollars spent at all retail types at any retail location on the sale of either spectacle lenses (including Rx sun), frames, contact lenses,
sunglasses (plano), OTC readers, or revenue earned from refractive surgery (LASIK only) or eye examinations. This number does not include sunglass
clips and reflects the dollars spent only by those U.S. residents 18 and older. Does not include retail dollars spent by/for contact lenses and exams for those
17 years of age and younger.
$42.98 Billion:
+2.4% from 12ME
Period Jun’18
Growth in Contact Lens Adult Consumer
Usage and Sales Revenue: 12ME Period Jun’14 – 12ME Period Jun’19
2.93M
1.19
1.74
1.26
0.84
0.390.43
2.80$1,068.2
$420.8
$647.4
$566.9
$231.0 $139.1
$131.1
$202.3
$866.0
Total Male Female 18-34 35-44 45-54 55+ AHI: Upto $60K
AHI:$60K+
Growth in CL Usage (Millions of Users)
Growth in Revenue ($Millions$)
0.13
Vision Care Products & Services – Total U.S.
Market by Major Distribution Channel
$4,891.7
$7,081.4
$2,135.7
$162.8 $43.6
$4,473.1
$1,045.4$1,402.1 $1,320.8
$570.9$236.4
$581.7
OphthalmicFrames
Rx Lenses Contact Lenses Plano SG OTC Readers Eye Exams
In $Millions$All Retail*
Inflation not taken into consideration
Independent ECPs
Conventional Chains
Mass Merchants / Wholesale Clubs
*All retail includes dollars spent at all retail types at any retail location on the sale of either spectacle lenses (including Rx sun), frames, contact lenses,
sunglasses (plano), OTC readers, or revenue earned from refractive surgery (LASIK only) or eye examinations. This number does not include sunglass
clips and reflects the dollars spent only by those U.S. residents 18 and older. Does not include retail dollars spent by/for contact lenses and exams for those
17 years of age and younger.
Market Sizing:
Indep. ECP: $18.79B
Chains: $8.98B
Mass/Club: $5.16B
Vision Care Products & Services – Total U.S.
Online / Internet Market
*Online retail includes dollars spent on websites / online retailers for the sale of either spectacle lenses (including Rx sun), frames, contact lenses,
sunglasses (plano), and OTC readers. This number does not include sunglass clips and reflects the dollars spent only by those U.S. residents 18 and
older. Does not include retail dollars spent by/for contact lenses and exams for those 17 years of age and younger.
$2.66 Billion:
+7.7% from 12ME
Period Jun’18
$495.2
$676.6
$822.5
$591.2
$77.9
Ophthalmic Frames Rx Lenses Contact Lenses Plano Sunglasses* OTC Readers
In $Millions$Online Retail Dollars *
Inflation not taken into consideration
12ME Jun17 12ME Jun18 12ME Jun19
12ME June 2019: All Frame Purchase, Online Frame
Purchases & Future Potential Online Purchases
78.7
36.9
41.8
20.9
13.115.3
29.431.3
47.4
7.4
3.2 4.2 3.71.4 1.2 1.1 2.7
4.7
14.5
6.6 8.04.6
2.7 3.0 4.2 5.59.0
All Men Women 18-34Yrs Old
35-44Yrs Old
45-54Yrs Old
55+ YrsOld
AHI: Upto $60K
AHI:$60K+
All Frame Purchases 12ME Jun'19
Online Frame Purchases 12ME Jun'19
Potential Future Online Frame Purchases
Millions of Unit Pairs
VisionWatch: The Vision Council Annual Sample Size: 110,000+ Adults
US Plano Sunglass Retail Sales (Millions of
Pairs) by Channel: 12ME June 2019
Total Sales vs. Up to $30
0.0
5.0
10.0
15.0
20.0
25.0
30.0
+4.2%+0.0%
+1.3%
+2.8%+1.3%
+1.0%
+3.8%
+2.9%
-11.9%
-6.6%
+2.5%
+2.2%
+1.7%
-0.4%+2.7% -0.4%
+2.5%
Growth vs.
12ME Jun’18
-1.9%
+8.1%
In millions
OTC Readers--Wearers & Dollars: 12ME Jun’19
Average Annual Spending
$28.75
VisionWatch: The Vision Council Annual Sample Size: 110,000+ Adults
$28.43$29.12 $42.07 $30.50 $25.59 $25.78 $31.27
$943
$446$497
$68
$341
$495
$388
$555
32.8
15.3 17.5
1.6
11.219.3
15.0 17.8
All Men Women 35-44 45-54 55+ AHI: Upto $60K
AHI:$60K+
Number of People Wearing
Units Sold
Dollar Revenue
MVC: Trends and Demographics
45.9%
50.6%
12MEDec'09
12MEDec'10
12MEDec'11
12MEDec'12
12MEDec'13
12MEDec'14
12MEDec'15
12MEDec'16
12MEDec'17
12MEDec'18
12MEJun'19
Percentage of the US Adult Population with MVC Coverage
52.7%
28.8%
20.0% 19.9%
31.3%
37.4%
62.6%
18.6%
36.3%
21.2%23.9%
Male Female 18-34 35-44 45-54 55+ AHI: Upto $60K
AHI:$60K+
NERegion
SERegion
MWRegion
MPRegion
Total US Adult Population Possess MVC
47.3%
Ophthalmic Frames
Retail Structure of Frame Market (Dollars)
5.3% 5.3% 5.2%4.2% 4.6% 5.0%3.5% 3.1% 2.7%
10.7% 10.6% 10.5%
27.9% 27.5% 27.4%
48.4% 48.9% 49.2%
12ME Jun17 12ME Jun18 12ME Jun19
Other Online / Internet Department Stores
Mass Merchandisers / Clubs Chains Independents
+1.7%
+2.4%
+1.2%
+0.8%
-12.3%
+10.0%
% Change
18/19
$9,769.7M$9,638.4M $9,940.0M
+0.9%
Frame Unit Purchases:
Usage of Insurance By Consumers66.2
Million
78.7
Million
60.4% 62.2% 59.6% 59.3% 57.4% 57.6% 58.7% 58.3% 58.3% 58.2% 58.7% 59.3%
39.6% 37.8% 40.4% 40.7% 42.6% 42.4% 41.3% 41.7% 41.7% 41.8% 41.3% 40.7%
12MEJun08
12MEJun09
12MEJun10
12MEJun11
12MEJun12
12MEJun13
12MEJun14
12MEJun15
12MEJun16
12MEJun17
12MEJun18
12MEJun19
Used Insurance No Insurance
Frame Unit Purchases: By Material—12ME June 2019
VisionWatch: The Vision Council Annual Sample Size: 110,000+ Adults
40.2%
31.8%
22.3%
5.7%8.6% Total Metal
Combination (plastic& metal)
Plastic
Other
Rimless / Semi-Rimless
55.0%
45.0%
27.5%21.1% 21.3%
30.1%33.5%
66.5% 63.3%
36.7%
Male Female 18-34 35-44 45-54 55+ AHI: Upto$60K
AHI:$60K+
MVC FTC
All Frame Purchases
Rimless / Semi-Rimless
Percentage of Lenses (Units) with the Following
Attributes: 12ME Jun’18 vs. 12ME Jun’1954.5%
14.4%
31.1%
8.6%
45.6%
7.8%
15.7%
60.8%
10.9%
41.7%
8.2%
SV
MF
PAL
Free Form / Digital PAL
AR
Polarized / Rx Sun
Photochromic
MVC
Lens-Only Purchase
Sold via Independent ECP
Sold via Online Retailer
+6.1%
+2.8%
+4.0%
+1.6%
+2.1%+0.9%
+8.5%
+1.0%
+1.8%
-3.7%
+1.7%
Vision Care Products & Services – Total
Projected 12ME Jun’20 U.S. Market Forecast
OphthalmicFrames
Rx Lenses Contact Lenses PlanoSunglasses
OTC Readers Eye Exams RefractiveSurgery
In $Millions$Inflation not taken into consideration
12ME Mar'18 12ME Mar'19 12ME Mar'20
*All retail includes dollars spent at all retail types at any retail location on the sale of either spectacle lenses (including Rx sun), frames, contact lenses,
sunglasses (plano), OTC readers, or revenue earned from refractive surgery (LASIK only) or eye examinations. This number does not include sunglass
clips and reflects the dollars spent only by those U.S. residents 18 and older. Does not include retail dollars spent by/for contact lenses and exams for those
17 years of age and younger.
+0.7% +1.1%
+0.2%+4.1%
+2.2%
+1.5%
-0.6%
DATA / MARKET QUESTIONS?
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